Share this article
Binance Upgrades Blockchain Bridge to Connect DeFi and CeFi
The firm behind the exchange is continuing its infrastructure push.
Updated May 11, 2023, 4:07 p.m. Published Mar 29, 2022, 1:00 p.m.
Binance, the world's largest cryptocurrency exchange by trading volume, has launched the second iteration of its cross-chain protocol that connects its flagship layer 1 blockchain, BNB Chain, with other chains.
- Binance Bridge 2.0 will be compatible with more blockchains, feature a better user experience and decrease maintenance costs, the firm said in a press release shared with CoinDesk on Tuesday.
- The bridge will allow users to access traditional centralized finance (CeFi) and decentralized finance (DeFi) via the Binance app. Decentralized finance refers to financial activities carried out on the blockchain without any intermediaries.
- Binance rebranded its layer 1, or base, blockchain to BNB Chain in February as it pushed towards being a key blockchain infrastructure provider. The bridge is an important element of that push, as it allows users and developers to bring other tokens to Binance's ecosystem.
- Through the bridge, users can bring unlisted tokens on BNB Smart Chain as B-Tokens, the press release said. B-Tokens are tokens pegged to the value of some underlying cryptocurrency. This technology, known as wrapping, is used to move tokens from one blockchain protocol to another by essentially mirroring them.
- Tokens that are listed on Binance's crypto exchange will be stored in Funding or Spot Wallets, whereas unlisted tokens will be saved on Funding Wallets. BNB Smart Chain is a blockchain that is compatible with the Ethereum Virtual Machine (EVM), where smart contracts are executed. Funding wallets facilitate peer-to-peer transactions.
- The bridge comes with a new automated circulation control system for B-Tokens, which will only keep a buffer surplus of the wrapped tokens in hot wallets and mint new ones when users bring tokens from different blockchains on BNB Smart Chain. The rest of the circulating supply of tokens will be backed by the native tokens bridged to Binance's ecosystem.
- Separately, BNB said that scaling platforms Celer, Ankr, and NodeReal launched the first BSC Application Sidechain (BAS) testnet.
Read more: Binance Smart Chain Rebrands to BNB Chain
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Stablecoin Adoption Is ‘Exploding' — Here's Why Wall Street Is Going All-In
Alchemy co-founder and president Joe Lau said stablecoin adoption is exploding as banks, fintechs and payment platforms push beyond the USDT/USDC exchange era.
What to know:
- Stablecoin usage is quickly broadening from crypto-native exchanges into payments, payroll and treasury as companies chase 24/7, digital-native settlement, according to Alchemy Co-founder and President Joe Lau.
- Banks are pushing tokenized deposits as a regulated, bank-native alternative that delivers stablecoin-like benefits for institutional clients.
- The endgame is a two-track system — stablecoins for open, two-party settlement; deposit tokens for bank ecosystems, until scale forces convergence and competition, Lau said.
Top Stories
